Abbey in red to the tune of over €340k

The Abbey Theatre last year plunged into the red due to restructuring costs and a 12% drop in box office receipts to record a loss of €340,196.

Accounts just filed with the Companies Office show the theatre recorded the loss following a €240,376 profit in 2010 — a negative swing of €580,572.

Costs of €155,799 in redundancy payments as part of the final phase of a restructuring plan that involved 26 job losses contributed to the loss.